While most parents agree that teaching their kids about money is important, here are some of the most common excuses we hear about why they don’t want to their kids to have a financial education – and our response.
Excuse no 1: My kid is too young
This excuse is typically used by parents whose kids are 10 to 13 yrs.
If your child is old enough to say “I want..”, they are old enough to learn about money.
A child’s money habits are formed by the time they are 7 years are old and the earlier they learn good money behavior, the better it is for them – and for you.
Keep in mind the Arab proverb: What is learned in youth is carved in stone.
Excuse no 2: My kid is too old
Some parents feel that since their kid is 18 or 19 yrs old they might not be inclined to attend a program on money management.
If you have an older teen who hasn’t yet had some training in financial education, alarm bells should be going off in your head.
While teaching young kids about money is important, for older teens, it’s mission critical. They shouldn’t be allowed to leave for college or university without it.
In fact older teens shouldn’t just be learning about basic money management, they should have investing on their study radar as well.
Excuse no 3: My kid isn’t interested
I find this one really interesting because it’s by far the most popular excuse used by parents.
This is when your kid is interested in spending money but can’t be bothered to learn about it. That’s like saying they’d like to drive but can’t be bothered to take driving lessons. You would never let that happen would you?
So enough with the excuses. Let’s take time to teach our kids a few of the things that we should have learned when we were their age.
Give us a call and see how we can help.